Through its many activities in recent years, AIMA has increasingly seen investors seek greater returns and a diversification of portfolio allocation. This has led to the development of the alternative investment industry, including private equity and venture capital, securitised products, real estate and skillbased strategies such as hedge funds, managed futures and commodities.

With well over US$1 trillion under management within the alternative investment sector in 1997 and a projected annual growth of 15-20 per cent over the following five years, the need for a clear outline on what these investments comprise is foremost in answering investors' many questions.

The first of its kind, this book brings together in one publication, chapters on skill-based investment strategies such as hedge funds, managed futures and currencies. It also provides detailed insight into: developments affecting asset-backed securities (CL0s/CB0s); emerging-market fixed-income debt; credit and insurance derivatives.

The core of the book has been written by market practitioners and aims to define the changing world of alternative investments while stressing the benefits offered by these strategies. The overall objective is to facilitate the investment decision process of institutional investors.

This book should be on the desk, rather than the bookshelf, of everyone involved in the investment industry.

Boris Antl is President of Finexis Inc, a financial software and risk management consultancy based in Berkeley, California. He has previously worked with Chemical Bank's Foreign exchange Advisory Service in New York, J. Henry Schroder Wagg & Co in London and New York, the Capital Markets Divisionof Crocker Bank in San Francisco, and co founded and managed Swap Services International, a Swap software company in Silicon Valley. He is a graduate of the University of California at Berkeley and the Columbia Graduate School of Business. He has edited and written a number of books and articles on the subject of financial exposure and risk management.

This best-selling book?s objective is to facilitate the investment decision process of institutional investors as they seek to minimise risks and increase returns through a diversification of portfolio allocation.

Alternative Investment Strategies is published in association with the Alternative Investment Management Association (AIMA) in response to the growing demand for a concise explanation of non-traditional investment methods.

Through its many activities in recent years, AIMA has increasingly seen investors seek greater returns and a diversification of portfolio allocation. This has led to the development of the alternative investment industry, including private equity and venture capital, securitised products, real estate and skillbased strategies such as hedge funds, managed futures and commodities.

With well over US$1 trillion under management within the alternative investment sector in 1997 and a projected annual growth of 15-20 per cent over the following five years, the need for a clear outline on what these investments comprise is foremost in answering investors' many questions.

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